Kichem09

Kichem09

RSI indicates we are over bought, that alone means little to me; however look at all those unsuccessful attempts to break resistance at the same time. I believe the combination is a modest indicator we are going back into bearish territory. Price action this close to the resistance offers a nice R:R ratio, just not too close so you're not wic'd out only to watch...

Kichem09

Multiple unsuccessful attempts to break through resistance and I believe that we are going to see a drop. With the right SL placement you should have minimal risk for a decent potential reward. Only my thoughts though. We will have to see what happens. I hope this helps in your analysis.

Kichem09

This seems to go against my normal thinking but RSI indicated we may be oversold and as we are currently in a wedge pattern it is possible price will explode into bullish momentum. Will it stop and create a triple top before it drops or will it continue on to the next line of resistance? It all seems crazy but I am going to give it a very conservative try. Thoughts?

Kichem09

RSI indicates on the 1H chart we are overbought. I have included on the chart a couple additional thoughts as to why we may be bearish for some time. I hope my idea is helpful in your analysis.

Kichem09

I have posted two scenarios on the chart and I am honestly 60/40 but my current sentiment is bearish after the double top has completed. It will stay that way unless a 4 hour candle closes over the high of the double top at .64420 I am planning to pick up the additional 50ish pips before resistance and will monitor closely from there for my next move....

Kichem09

This is just my idea and what I see in the chart, as always I am only as confident as the volatile market will allow me to be. Apart from a consolidation day the trend has respected the required lower lows and lower highs of a trend for a week, it is following the channel very nicely on 4 hour and daily time frames. I don't have any reason to believe that it will...